New Year must sort this

[glenismorganlewis]

Im another Swiftly sinking person.

 

In 2002 following the death of my husband and the realisation that I needed to find 20k, I took out a loan.

 

I received no statements until 2 years ago.

 

You can gusess the rest. I paid over 20k, still owe 24k. So I asked for a redemtion figure, that was 48k and was then told that at the end of my 240 month term I would have another 10 years to pay what I owe. Some 96k for a 20k loan.

 

I also had PPI from Dial 4 a loan, what can I do about that. I did not need it as I was salaried and get sick pay.

 

It seems that they want my house which I now own and will take it when I retire, my son and I would have been better off homeless 10 years ago.

 

I started the process and wrote to them but they gave me a £446.00 refund because they said I was in arrears and I proved it never happened. With regard to everything else I asked they ingored the letter.

 

Is anyone in a legal capacity doing or investigating this company. What can I now do before im retired and in a situation?

 

Ive read lots of posts and Im glad to be not alone, but Im still bloddy scared.

[rebel11]

Hi glen

 

Welcome to CAG

 

The guys will advise as soon as they are available.

[lesterlass]

Im another Swiftly sinking person.

 

In 2002 following the death of my husband and the realisation that I needed to find 20k, I took out a loan.

 

I received no statements until 2 years ago.

 

You can gusess the rest. I paid over 20k, still owe 24k. So I asked for a redemtion figure, that was 48k and was then told that at the end of my 240 month term I would have another 10 years to pay what I owe. Some 96k for a 20k loan.

 

I also had PPI from Dial 4 a loan, what can I do about that. I did not need it as I was salaried and get sick pay.

 

 

It seems that they want my house which I now own and will take it when I retire, my son and I would have been better off homeless 10 years ago.

 

I started the process and wrote to them but they gave me a £446.00 refund because they said I was in arrears and I proved it never happened. With regard to everything else I asked they ingored the letter.

 

Is anyone in a legal capacity doing or investigating this company. What can I now do before im retired and in a situation?

 

Ive read lots of posts and Im glad to be not alone, but Im still bloddy scared.

 

Hi Glen hold on in there Swift are in for big trouble.....read through Swift Loan recharges claim.....long read but worth it. The FSA and the OFT are onto Swift now here is the link

 

http://www.mortgagestrategy.co.uk/distribution/swift-investigated-by-fsa-over-arrears-handling/1023883.article They are expecting a heavy fine.

 

Here is a link also to help with your PPI

 

http://oft.gov.uk/shared_oft/business_leaflets/consumer_credit/unfair-relationships/yates-lorenzelli-nemo.pdf

 

LL

[glenismorganlewis]

Thank you. Have read the link with interest. What will happen if they are fined, can these sort of companies go bust, if so what happens to people like me who have a loan, more worrying, what happens if they dont.

Thank you so much for replying to me. It means a lot to have a light at the end of what has been a long tunnel. I started corresponding with Swift 1 year ago and have been stone walled at every turn.

 

gml

[landy_alert]

Hi gml,

 

Sorry to hear of your predicament with Swift. The PPI you have is almost certainly reclaimable, as it was more than likely mis-sold. You would need to write to your broker regarding this as they are the ones responsible for that aspect. It won't be an easy ride, especially as there is currently a Judicial Review being brought by the banks in response to FSA regulations regarding the way PPI complaints are investigated. Whilst this is in progress, most companies are using it as an excuse to put PPI complaints on hold although FSA and FOS statements say they should be carrying on investigating these complaints as normal. I too had a Swift loan and (pre Judicial Review) managed to successfully reclaim seceral thousand pounds of mis-sold PPI from my broker - not Dial 4 a Loan - although this involved a prolonged battle and assistance from the FOS. In the first instance I would advise sending Data Subject Acccess Requests to both Swift and your broker to gather all the information you can regarding your loan.

 

Good Luck and keep us posted how you get on.

 

Landy x

[jacqui_o]

Welcome to the form glenis......... this is the best possible place for support and help and pointers in which direction to go..........I have been given some terrific pointers and like you am embarking on the taking firmer action after no responseot letter......

 

Can I ask with the SAR mshould there have been details of the broker in it? because there are none, there are also no details of the solicitor either.

[glenismorganlewis]

Hi jacqui o

I have recentlu found out that it is Dial 4 a Loan and have also got an address via the ombudsman so am going down the route, a long one I believe. My concern is that I am getting nowhere paying this, 24k paid 20k borrowed 10 years to go and then they say they will add on 10 years but will not say why. Cannot work out the interest nor can a financial advisor who looked at it, they also want 48k to pay the loan early. I will be a pensioner and am sure they are just waiting to snaffle my home. There are no solicitors details involved on the paperwork.

[swansea osprey]

hi glen

Sorry to hear of your problem that you are having with Swift. they are a glorified,legalised money lenders.

[glenismorganlewis]

Thanks for your reply. I get braver every time one of you guys replies to me. The knowledge that they are one step up from doorstep thugs is spurring me on. Its nice to know that Im not on my own in having made the mistake of getting involved with them.

[glenismorganlewis]

Just a thought and I wondered if you could answer my musings. It seems from what I have read that Swift are stashing away money to counter claims they may have against them. If they went bust, by some miracle, theyve probably ripped too many people off for that to happen, but if it did what would happen to the loans such as mine? Would some other cowboy company take them on.

[Apollo18]

Just a thought and I wondered if you could answer my musings. It seems from what I have read that Swift are stashing away money to counter claims they may have against them. If they went bust, by some miracle, theyve probably ripped too many people off for that to happen, but if it did what would happen to the loans such as mine? Would some other cowboy company take them on.

 

Hi GML,

 

'Would some other cowboy company take them on'.

 

YES!!!!!

PROBABLY.....

 

Apollo18

[jacqui_o]

funny glen, there is no paper work like that supplied with my SAR either......have you contacted [email protected] you could email her with all the issues you are having and have had with Swift...

[glenismorganlewis]

Hi lester lass, long time no speak. Just to let you know that I am waiting for a court date re PPI. Gone against both Swift and Dial 4 a loan. Any monies gained will go to a Big Ass banana to sort out the other issues. Thats right Swift, I will see you in court. Will let you know how it goes. Sorry to post at the end of this last reply, not too good at the site im afraid.

[jacqui_o]

Hi Glen

 

Court paperwork was issued against Swift by myself with regards PPI...

 

Have you been asked to supply a court bundle? did you attach any draft directions at all?

 

I am awaiting their response ot my court action, but guessed it owudl go to court, they wotn settle before hand.

[glenismorganlewis]

Hi

good friend working in legal profession dealing with this, everything gone in and case fast tracked, waiting for date.

 

Looking to remove his teeth while foot up his ass. Been a long time coming.

 

How do I change my username. Im so out there and I know they read these logs. Hopeless finding my way round the website. Dont want to spoil their surprise.

[jacqui_o]

Sorry Glen I am really confused here, everything gone in?????? Sorry to be thick , but initially all you submit is the application form... N1 depending on the amount the appropriate fee, , reading my notice of service am a little confused, there were 2 steps from issue where judgment could have been asked for. the info on that is really quite good, I am not a legal professional and can understand it and follow it with out much trouble, which is why i am kind of confused......lol....

 

Am not sure what you mean about "How do I change my username. Im so out there and I know they read these logs. Hopeless finding my way round the owebsite. Dnt want to spoil their surprise.[/color] What do you mean by so out there??????? totally confused? you have onyl 14 posts?????? as for the surprise, if you are just waiting a court date then it is no longer a surprise??? they have been served with he court paperwork!!!

 

So long as you do not put any personal details on the posting you make how are they going to know if they are reading the boards who is who? there are people with hundreds and thousands of posts who have not been ID by any of the companies reading these boards/forums ...

 

This is one of the great things about sites liek this, it gives people the information and ability to take on companies who have adn are behaving badly, this is doen by sharing information and helping each other and others, no one has ot give out any personal information, but generals and things a lot can be found online by doign searches............

 

if the info is really sensitive or that, there is always the private message function, but would suggests the usual precautions when online.......

 

hope you get your court date soon...